Fiera is acquiring Centria for $33 million in cash and stock from DJM Capital Inc., a holding company that also indirectly controls Fiera.

Jean-Guy Desjardins, Fiera’s chairman and CEO, owns 80% of DJM. The remaining 20% is owned by entities controlled by Jean Monty, who sits on Fiera’s board.

In addition, DJM owns 63.3% of Fiera Holdings Inc., which in turn controls all of the class B special voting shares of Fiera Capital.

Centria manages funds that provide construction financing, real estate investment and short-term business financing, largely on behalf of Fiera’s private wealth clients. Centria has approximately $325 million in assets under management (AUM), which are almost all run for existing Fiera clients.

Fiera will integrate Centria as its own private lending platform, which will be called Fiera Private Lending, after the deal.

The $33 million price tag on the deal includes $10 million in cash and the issuance of 1.9 million subordinate voting shares in Fiera. Another $12 million in shares may be paid over a three-year earn-out period, if certain AUM, revenue and earnings targets are hit.

Given that the deal is a related-party transaction, a special committee of independent board members was appointed to consider the transaction. That committee recommended the deal, and Fiera’s board has approved it.